Commentary to Amendment Paper No 20 to the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill
Amendment Paper No 20 contains proposals to:
- Restore the ability to claim interest deductions for residential investment properties
- Repeal the current ten and five-year bright-line tests and replace with a two-year bright-line test
- Remove the ability to depreciate commercial buildings
- Improve the tax treatment of the disposal of trading stock at below market value
- Introduce a new gaming duty
- Introduce a transitional rule relating to platform economy rules